Ronald A Retzer

He appraised my property low, and this is totally in line with research on racial bias
Overall Rating
by Seward, Sep. 21, 2021

Ronald Retzer appraised what is now my townhouse in late 2015, appraising it for $13,000 below the price the seller and I had agreed on. (The sale price was $183,000, so $13,000 was proportionately a lot.)

The appraisal was based on comparing to townhouses in significantly worse neighborhoods and significantly worse condition. This cost me a lot of money (that's cash that would've been invested in stocks in these boom years...). The sales of townhouses in the same complex immediately following mine confirm that mine was, in fact, priced fairly.

Here's what I hope he genuinely reflects on: We have tons of research, including new research out from Freddie Mac today, that properties in Black and Latino neighborhoods systematically appraise low. I live in the NW corner of Seward--with mostly Somali immediate neighbors, across the street from public housing that is mostly populated with indigenous elders.

How much did racial bias influence this appraisal? It's not enough to say, "Oh no, it didn't, here are all the reasons I appraised this way, I've always done it this way." The ways appraisers have "always done it" are racist and are robbing people of wealth. Where's the reflection in this industry on its practices? What does it plan to change?

* this reviewer has be with this appraiser for <6 months
* this reviewer had 1 - 2 dentists before.
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